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<br />'5-TO1568
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />indebted" ss e' Vedb y the and
<br />ttandelate charge.ts provided a the Note, and the principal of and interest
<br />promptly pay when due the principal of and interest on the
<br />on any Future Advances secured by this Mortgage.
<br />2. Funtie for Taz. and Insurance, Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to lender on the day month] a sum (here y installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />in "Funds") equal to one - twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Properly, if
<br />Plus one-twelfth of yearly pre any, plus one - twelfth of yearly premium installments for hazard insurance,
<br />mium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to
<br />The time by Lender on the basis of assessments and hilts and reasonable estimates thereof.
<br />slate agency (including LenderrifrLendertistsuch an nssttitution) accounts Lender shall which ply the Fu ds to pay said taxes, assessments,
<br />guaranteed by a Federal or
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />Permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to he paid, Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower• without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />Purpose for which each debit to the Funds was m
<br />by this de. The Funds are pledged as additional security for the sums secured
<br />e iortgage.
<br />" he atuount of the Funds held by Lender, together with the future month!
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess hallinstallments be, at BoFower'saoptionPreither
<br />Promptly repaid to Borrower or credited to Borrower on in fall d installments s Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall f ds
<br />Borrower shall Pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage• Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereot the Property a ,old or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />Note an paarrag pus If and 2 hereof shall be applied! by pro�ides
<br />otherwise. all
<br />of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over Ill's Mortgage. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly,
<br />Borrower shall Lender Borrower shall prompt!) furnish to Leer receipts evidencing such payments.
<br />Promptly discharge any lien which has priority user this Mortgage: not be
<br />required to discharge any such lien so long As Borrower shall agree in ""tong to he provided.
<br />ayment ofh he obligation!secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest
<br />to prevent the en such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate forcement of he hen or forfeiture of the Property or any part thereof.
<br />S• Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the ProPerty insured
<br />against loss by fire, hazards included within the term 'bxtended coverage. and such other hazards as Lender may require of
<br />and in such amounts and for such periods as Lender may require; provided, that
<br />-ender shall not require that the amount re
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval
<br />that such approval shall not he unreasonably withheld. All premiums on insurance Policies hall bebpaid provided.
<br />manner
<br />Provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making Payment, when due, directly to the
<br />insurance carrier.
<br />All insurance Policies and renewals thereof shall he in form .icceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. lender shall have the right to hold the policies Ad renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof off loss if nottmade promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, Insurance proceeds shall he applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair's not economically feasible or it the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that he insurance carrier offers to settle a claret for insurance benefits, from Lender
<br />the
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the • +ms secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree ul writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph IS hereof the Property is acquired by Lender. all right, title and interest of Borrower
<br />in and to any insurance Policies and in and to the Proceeds thereof resulting from damage to the Property Prior to the sale
<br />ac uisition. shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Prtoarvadon ased Midefenatwe of Property; leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the Provisions of any lease if this Mortgage is on a leasehold. If his Mortgage is on it unit in a
<br />condominium or a planned unit development, Borrower shall Perform all of Borrower's obhgauons under the declaration
<br />or covenants creating or governing the condominium or planned inn development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent dcxumenrs. If a condominium or Planned unit development
<br />rider is exacutad by Borrower and recorded u,geher "till this Mortgage• the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. Ptrotrtetlott of lender +s Security. If Borrower fails u, perform he covenants and agreements contained in this
<br />Mouding. or if any action or proceeding 's commenced which materially affects Lender's interest in the Property,
<br />including. but not limited ten, eminent domain. insolvency, code enforcement or arntogements nr proceedings involving a
<br />bankrupt ar decedent. then l,e -tier at Lender" opti on. tip m notice 'n itnrrower. mar make wch ,r proceedin disburse such
<br />sums and take such aai.rn .rs is necessary to protect I.en,icr s jntcrest. including. but not tinned to, drsbusburses of
<br />reas.mlable attonzcys tees and entry 'Pon the I'rolx'iy Io make rcpau, ft Irnrlcr rcyto" 11 mortgage msurcor as ,t
<br />int�ance in ifae ou,h uo:rnAlmr n.•rmmntrsrrimttc�nrdnnc<iw'th Botrnwcrus'md
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